Bank of New York Mellon Corp Sells 15,656 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bank of New York Mellon Corp trimmed its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 23.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,254 shares of the biopharmaceutical company’s stock after selling 15,656 shares during the period. Bank of New York Mellon Corp owned about 0.07% of Xenon Pharmaceuticals worth $1,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in XENE. Avoro Capital Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 15.6% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock valued at $261,007,000 after purchasing an additional 766,666 shares in the last quarter. Wellington Management Group LLP boosted its position in Xenon Pharmaceuticals by 140.9% during the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after acquiring an additional 2,434,546 shares during the last quarter. Capital World Investors grew its stake in shares of Xenon Pharmaceuticals by 17.9% during the 4th quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after acquiring an additional 406,563 shares in the last quarter. Capital International Investors grew its stake in shares of Xenon Pharmaceuticals by 0.8% during the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after acquiring an additional 20,176 shares in the last quarter. Finally, Commodore Capital LP raised its holdings in shares of Xenon Pharmaceuticals by 17.5% in the fourth quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock valued at $99,849,000 after purchasing an additional 322,793 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Up 0.3 %

XENE stock opened at $40.09 on Wednesday. Xenon Pharmaceuticals Inc. has a 1-year low of $27.99 and a 1-year high of $50.99. The stock has a market cap of $3.03 billion, a P/E ratio of -14.79 and a beta of 1.25. The stock’s fifty day simple moving average is $40.86 and its two-hundred day simple moving average is $40.71.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter in the previous year, the firm posted ($0.72) EPS. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on XENE shares. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Wedbush dropped their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.78.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.